Wellington Management Group LLP Acquires 19,427 Shares of ArriVent BioPharma, Inc. $AVBP

Key Points

• Wellington Management Group LLP increased its holdings in ArriVent BioPharma, acquiring an additional 19,427 shares, lifting its total ownership by 46.3% to 61,348 shares valued at approximately $1.13 million.
• ArriVent BioPharma's stock has been rated a "strong-buy" by B. Riley, with several analysts providing buy ratings and price targets ranging from $39.14 to $45.00, suggesting bullish sentiment among market commentators.
• The company's stock recently opened at $19.12, showing a 12-month range of $15.47 to $36.37, along with a reported earnings miss of ($0.90) per share in its last quarterly results.

Wellington Management Group LLP grew its holdings in shares of ArriVent BioPharma, Inc. (NASDAQ:AVBP - Free Report) by 46.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,348 shares of the company's stock after purchasing an additional 19,427 shares during the quarter. Wellington Management Group LLP owned approximately 0.18% of ArriVent BioPharma worth $1,134,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position in ArriVent BioPharma by 773.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,599 shares of the company's stock valued at $43,000 after acquiring an additional 1,416 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in ArriVent BioPharma in the 4th quarter valued at $218,000. Voya Investment Management LLC purchased a new position in shares of ArriVent BioPharma during the 4th quarter worth $223,000. ProShare Advisors LLC purchased a new stake in ArriVent BioPharma in the 4th quarter valued at about $254,000. Finally, Price T Rowe Associates Inc. MD increased its stake in ArriVent BioPharma by 17.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,965 shares of the company's stock worth $293,000 after purchasing an additional 1,620 shares during the period. 9.48% of the stock is currently owned by hedge funds and other institutional investors.

ArriVent BioPharma Trading Up 3.5%

NASDAQ AVBP traded up $0.69 during trading on Friday, reaching $20.21. The company's stock had a trading volume of 182,541 shares, compared to its average volume of 255,984. The stock has a market capitalization of $819.92 million, a PE ratio of -5.01 and a beta of 1.17. The business has a 50-day moving average price of $20.13 and a 200-day moving average price of $20.75. ArriVent BioPharma, Inc. has a 1-year low of $15.47 and a 1-year high of $36.37.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.70) by ($0.20). As a group, analysts expect that ArriVent BioPharma, Inc. will post -2.74 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on AVBP. The Goldman Sachs Group raised ArriVent BioPharma to a "buy" rating and set a $33.00 price objective for the company in a report on Thursday, July 10th. Zacks Research raised shares of ArriVent BioPharma from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Oppenheimer reaffirmed an "outperform" rating and set a $44.00 price target (up from $39.00) on shares of ArriVent BioPharma in a report on Tuesday, June 24th. Jones Trading initiated coverage on shares of ArriVent BioPharma in a research report on Tuesday, May 20th. They set a "buy" rating and a $40.00 price target for the company. Finally, Citigroup reaffirmed a "buy" rating and set a $33.00 target price (down from $40.00) on shares of ArriVent BioPharma in a report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $39.14.

ArriVent BioPharma Company Profile

ArriVent BioPharma, Inc operates as a clinical-stage biopharmaceutical company that engages in the identification, development, and commercialization of medicines for the unmet medical needs of patients with cancers in the United States. It also engages in the development and commercialization of targeted cancer therapies for non-small cell lung cancer (NSCLC) and other solid tumors.